Despite ‘Soft’ Survey Strength, US Manufacturing Unexpectedly Tumbled In August

US Industrial Production disappointed in August, unchanged MoM vs expectations of a 0.3% MoM rise.

Capacity Utilization was flat MoM (slight disappointment to expectations…

Worse still, manufacturing production seemingly hit an unexpected wall in August, falling 0.3% MoM versus an expectation of rising 0.3% MoM. That was the biggest monthl;y drop since Oct 2025 and dragged growth down to just 0.9% YoY…

This was ‘odd’ since ISM Manufacturing survey data has shown a sizable uptick this year…

…or maybe it’s just another useless survey signal?